Packaging is a diverse and growing sector and one that continues to advance with new developments in technology. Businesses who are planning for growth can take advantage of our flexible finance solutions tailored to ensure they find an affordable way to spread the cost of the assets or machinery needed, through a range of products such as hire purchase, lease or refinance. Fastracker Asset Finance will provide funding solutions for all types of assets, large or small.
The Environment Agency has confirmed that the amount of packaging waste recycled in 2015 has hit target. The most notable returns were in plastic, where despite tough trading conditions there Q3 2015 saw the largest return ever seen in plastic.
As a primary packaging material, glass continues to thrive. Europe, being the second largest market is expected to play a key role in boosting demand for glass packaging over the next 5 years. Glass has been the material of choice for decades due to its premium quality, its barrier to contamination, provides a longer shelf life for products and it is highly recyclable.
Glass is very versatile and is popular across a number of packaging sectors, and continued development is making the material even more attractive and useful to brands and their packaging partners. However it is much more straightforward to print on plastics, and as a lightweight alternative to glass it is more cost effective. It is also less fragile than glass.
In the past several years, one of the biggest changes in the packaging market is the competition to attract the swell of millennials, which, by 2020, will account for a third of the adult population (about 83 million). The ripple effect has been a rise in local and craft brands, in nearly every beverage category, functional foods and beverages, and smaller formats, as well as an increased focus on health and sustainability. The ‘millenial’ consumer’s expectations are different to those of previous generations. They are interested in transparency and sustainability.